Redeveloped Village Marketplace under way

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Jerry Burns, an architect at Architrilogy, designed the renovation of this 40,000-square-foot retail center on the corner of Vickers and Academy.

Formerly a “woody walk-up,” according to California owners Roberts and Melanie Pedrick, a 40,000-square-foot retail center on the northwest corner of Vickers Drive and North Academy Boulevard is embarking on a full-fledged transformation.
The Pedricks hired land planners from NES Inc. and architect Jerry Burns of Architrilogy to design the renovation. Demolition of existing buildings and moving a Verizon cell tower is expected before the end of August.
So far, Phenix Salon Suites, a 30-chair upscale hair salon has reserved space at the high-traffic location, and the Pedricks are working on several other leases, including a possible child care center, bank and restaurant.
The self-described “hands-on” investors also own the Pikes Plaza, across from the entrance to Printer’s Park, and a “workaday” center at the intersection of Security Boulevard and Main Street in Security.

Templeton Ridge sold

The 85-unit Templeton Ridge townhome apartment community near the northeast corner of Austin Bluffs Parkway and North Academy Boulevard has been purchased by Rondell Homes of Placentia, Calif., for $7.3 million.
Ken Greene and Kevin McKenna of Apartment Realty Advisors in Atlanta represented the buyer, and the company’s Atlanta corporate headquarters represented the seller, Beal Bank of Plano, Texas.
The price per square foot was $67.52.

New space for RAD

Radiation Assured Devices has leased 16,200 square feet of industrial flex space in the C.W. Business Park at 5017 N. 30th St.
The materials testing and evaluation company was formed during 2006 when it purchased the operation from ATK Mission Research.
Olive Real Estate Group broker Charley F. Conrad represented both the landlord, Papsco 1985 Trust, and the tenant.

New dental practice opens

Dr. Amy Williams-Trujillo has opened a dental practice at 5725 Erindale Drive, Suite 100. She previously worked with Dr. Sheldon Golomb.
Ted Link and Brian Norton of Cascade Commercial Group represented Williams-Trujillo. The owner, Colorado Ink II LLC, represented itself.

New corporate headquarters

On the heels of last week’s groundbreaking, the Air Academy Federal Credit Union officials confirm that construction has begun on a corporate headquarters at the corner of Union and Powers boulevards.
The building will replace the company’s current main branch at 1355 Kelly Johnson Blvd. Completion of the four-story 52,000-square-foot project is expected during the third quarter of next year.
Nunn Construction is the general contractor and The Larson Group is the building’s architect.

Local office for Denver firm

BluSky Restoration, a Denver-based national emergency restoration company, has opened its first Colorado Springs office at 6240 Lakeshore Court.
The tenant, represented by Lloyd Riphenburg and Charley Conrad of Olive Real Estate Group, leased 3,000 square feet of office/warehouse space.
The landlord, King Masonry, also was represented by Lloyd Riphenburg.

RMOB II adds doctor, spa

Research Medical Office Building Two at 8580 Scarborough Drive has added an internal medicine physician, Dr. Richard Harbison, who will lease about 3,800 square feet and take occupancy this fall.
Ted Link and Brian Norton of Cascade Commercial Group represented the landlord, Research Professional Group LLC. Harbison was represented by Mark O’Donnell of Sierra Commercial Real Estate.
Becky Hurley covers real estate for the Colorado Springs Business Journal.